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North American markets sagging
May 16, 2012 / 5:00 am
Big Picture Euro worries flare-up, risk is “off”, Spanish bank nationalization The European debt crisis moved back to centre stage this week following the election of anti-austerity politicians in Greece and France last weekend. The situation in Greece is most tenuous but...
US advances, TSX lags
May 2, 2012 / 5:00 am
Big Picture Euro-zone political worries, Fed raises US outlook, bank watchdog to oversee CMHC Major global equity markets stumbled out of the gate Monday but picked themselves up over the following days with many ending in positive territory by the close of trade Thursday. Euro-zone...
BoC holds rates steady...for now
Apr 25, 2012 / 5:00 am
Big Picture Earnings guide markets, China relaxes yuan, BoC holds rates steady…for now In addition to the expected story lines this week – developments in the euro zone, movements in China and economic data releases south of the border – investors had US earnings and a...
Equities may go sideways
Apr 18, 2012 / 5:00 am
Big Picture US recovery concerns, China GDP slows, BoC to set interest rate After posting five losing sessions in a row, most major markets rebounded mid-week closing at, or above, Monday opening bell levels. That’s when markets sold off in reaction to disappointing US payroll...
Euro-zone fears awaken
Apr 11, 2012 / 5:00 am
Big Picture Euro-zone fears awaken, Fed cool on QE3, commodities weaken It had to happen. After a very buoyant first quarter – and a strong first day of the new quarter – European debt worries brought global equity markets back to earth Wednesday. But instead of Greece...
Stock selection increasingly important
Apr 4, 2012 / 5:00 am
Big Picture US recovery fears rise, European debt reminders, austerity budgets The week got off to a good start on the back of a Fed-inspired rally Monday but the gains could not be held to close of trade Thursday for global equity markets. An accumulation of less-than-rosy US economic...
Canadian mortgage risk
Mar 28, 2012 / 5:00 am
Big Picture China cools, Euro-zone recedes, Canadian mortgage risk Major global equity markets took a breather this week from their recent advance as worries over weakening economic data out of China fed fears of slower global growth. Australian mining giant BHP Billiton (BBL) warned...
Canada slips on gold, commodities
Mar 21, 2012 / 5:00 am
Big Picture US economy getting stronger, quiet in Europe, China cooling concerns Positive signals on the US economy and an uneventful week in Europe had investors cheering into the market close Thursday with the only real negative development coming from China. In the US, most big...
US & Canadian markets rebound
Mar 14, 2012 / 5:00 am
Big Picture Cautious optimism in Greece, US considers another round of QE, Canada & EU hold rates flat Greece managed to avoid default once again, announcing on Friday that it had reached its bond swap target with private holders of Greek debt—the largest sovereign debt...
Gold takes a tumble
Mar 7, 2012 / 5:00 am
Big Picture Solid US economic data, Fed mum on QE3, dividend boosts for RY, TD and did Greece default? Greek debt concerns were pushed to the back burner this week as solid US economic data took centre stage. GDP growth for Q4, consumer confidence, consumer spending and pending home...
US picks up steam
Feb 29, 2012 / 5:00 am
Big Picture Greece remains a risk, EU sees recession, US picks up steam News of a successful 130-billion-euro bailout for Greece to avoid a default got the holiday-shortened week off on a positive note. But as the days passed, the realization set in that the debt crisis is far from over....
Dow hits highest level since 2008
Feb 22, 2012 / 5:00 am
Big Picture Greece set to get bailout, Fed mulls QE3, Moody’s puts RBC on notice Euro sovereign debt concerns pushed their way back into the headlines this week over the possible unraveling of a second bailout for Greece. China’s pledge to invest in Europe’s rescue...
Stocks advance on Greece optimism
Feb 15, 2012 / 5:00 am
Big Picture China growth at risk; Greece closer to second bailout China’s economic expansion could be cut in half this year if Europe’s debt crisis worsens. According to a “downside” forecast by the IMF, growth could fall by 4%, from the 8.2% projected for 2012....
U.S. data calms EU jitters
Feb 8, 2012 / 5:00 am
Big Picture Europe struggles to rekindle growth amid austerity European Union leaders met in Belgium on Monday to discuss ways to rekindle growth and create jobs, as aggressive austerity measures have propelled many eurozone countries back into recession. The jobless rate in the eurozone...
Greek debt talks hit snag
Feb 1, 2012 / 5:00 am
Big Picture Greek debt talks hit snag; U.S. may ease Greek debt-restructuring talks hit an impasse on Tuesday as private sector creditors pushed for a higher interest rate on the new bonds, arguing they are already taking a 50% write-down on existing bonds worth US$265-billion. A debt...
U.S. stocks near six-month high
Jan 25, 2012 / 5:00 am
Big Picture IMF seeks US$600-billion boost in funds The IMF is seeking to more than double its lending resources by raising US$600-billion to help countries deal with the fallout of the eurozone debt crisis, but the plan faces some resistance. The U.S. and Canada said that...
Stocks rally at start of new year
Jan 18, 2012 / 5:00 am
Big Picture German economy stalls; Italy, Spain raise debt Germany’s economic growth averaged a robust 3% in 2011 – twice that of the U.S. and the rest of the eurozone – but a foreboding 0.25% contraction in the final quarter has prompted fears of a recession...
Outlook remains cautiously optimistic
Jan 11, 2012 / 5:00 am
Big Picture Euro tensions; U.S. manufacturing accelerates Prime Minister Papademos warned Greece may default on its debts in March unless unions accept further salary cuts. Inspectors arrive on January 15 to assess Greece’s progress in cutting its deficit and to approve...
U.S. jobless claims at 3½-year low
Dec 21, 2011 / 5:00 am
New jobless claims in the U.S. dropped last week to the lowest level since May 2008, another sign that the U.S. labour market is healing. Job gains in November brought the unemployment rate to 8.6%, from 9%. The U.S. current account deficit narrowed to US$110.3-billion in the third...
Summit deal splits EU
Dec 14, 2011 / 5:00 am
Big Picture Summit deal splits EU; S&P announces credit review Following all-night talks, leaders of 23 of the 27 European Union nations agreed to a new treaty with strict oversight over national budgets, seen as crucial to solving the debt crisis. Britain, Sweden,...
The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet presents its columns "as is" and does not warrant the contents.
These articles are for information purposes only. It is recommended that individuals consult with a financial advisor before acting on any information contained in this article. The opinions stated are not necessarily those of Scotia Capital Inc. or The Bank of Nova Scotia. ScotiaMcLeod is a division of Scotia Capital Inc., Member CIPF.
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